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The Full Case Archive

In chronological order

The First Hedge Fund

How A. W. Jones improvised his way to an investment style and structure that has persisted till today.

The Birth of Sony

The story of one of the most remarkable consumer technology companies, founded in the ruins of post-war, bombed out Japan.

The Sony Walkman

The big history of a small device, from a remarkable Japanese company, that happened to have changed the modern world.

Henry Singleton: The Man Who Pioneered Share Buybacks

The contrarian conglomerate king who pioneered the use of share buybacks.

The TransDigm Phenomenon

A remarkable — if controversial — company in a weird industry. How TransDigm exploits the aerospace aftermarket to generate excessive returns for its shareholders.

How Charlie Munger designed the Incentives of Munger, Tolles, Olson

The unique way that storied law firm Munger, Tolles, Olson (MTO) allocates firm proceeds to its partners.

Danaher: Masterful Capital Allocation and Lean Manufacturing, Combined

How Danaher combines Lean manufacturing with masterful capital allocation to build a remarkable manufacturing company in the United States.

The Story of Signature Plastics

The rise, and then fall, of Signature Plastics, a pioneering custom keycap designer and manufacturer.

How Charlie Munger Made His First Million

How Charlie Munger came back from a major life setback and a terrible first business, to make his first million.

Katharine Graham at the Helm

Katharine Graham’s remarkable journey from widow to master capital allocator.

Michael Steinhardt: The King of Block Trading

How Steinhardt, Fine, Berkowitz found a competitive advantage in the early years of hedge funds. An example of competitive advantage in the ridiculously fierce domain of public markets.

The Fall of Steinhardt Partners

The erosion, and then collapse of Michael Steinhardt’s early advantaged position in the hedge fund world.

Marvel Studios: The Origin Story

The Marvel Cinematic Universe was created thanks to a brilliant piece of financial manoeuvring.

Bootstrapping to Millions in Singapore's Point of Sale Market

A personal story of bootstrapping success, with a little help from a distorted market.

How Private Equity Killed Payless

What it looks like when an owner has a ton of Capital expertise, but not much on the Operations or Market sides of business expertise.

How Private Equity Killed Toys “R” Us

How a series of leveraged buyouts killed a perfectly decent business.

Data, Knowledge and the Capital Cycle: The Start of Koch Industries's Empire

How Koch Industry’s used W. Edward Deming’s concept of ’knowledge’, some capital expertise, and data to build an empire.

Taking Process Control To The Limit at Koch

How Bernard Paulson turned information into a strategic advantage at Koch Industries, producing its first cash cow.

Amazon’s Category Expansion - Searching for the Right Incentives

A search for the right set of controllable input metrics at early Amazon, when it was expanding out from selling books.

Lee Walker and the Dell Growth Plateau

How Lee Walker came up with a creative solution to Dell’s biggest growth plateau — and in the process created a significant competitive advantage.